Petrobras profit misses forecasts, oil output increase eyed

Brazilian state-run oil firm Petroleo Brasileiro SA posted quarterly results that missed expectations on Tuesday, although management flagged a potential production boost in the second quarter as new platforms ramp up output.

Petrobras, as the firm is known, posted a quarterly profit of 4.03 billion reais ($1.02 billion), down 42 percent from the same period a year ago. That was well below the Refinitiv estimate of 5.36 billion reais.

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